MNI BRIEF: Bullock To Replace Lowe As Next RBA Governor

Michele Bullock, deputy governor at the Reserve Bank of Australia, will become Australia’s next governor, replacing Philip Lowe when his term ends September.

Federal Treasurer Jim Chalmers and Prime Minister Anthony Albanese revealed the decision Friday morning in Canberra.

Bullock beat out two other top contenders to take the job – Department of Finance Secretary Jenny Wilkinson and Treasury Secretary Steven Kennedy. She has spent over 37 years at the RBA and was named the Reserve’s first female deputy in 2022. She will lead the RBA’s implementation of the recent review recommendations (see: MNI BRIEF: Lowe Lays Out Board Meeting Reform).